Global Thermoset Composites Market, By Fibre Type (Glass Fibre Thermoset Composite, Carbon Fibre Thermoset Composite and Other Fibre Composites), Resin Type (Polyester Resin, Vinyl Ester Resin, Epoxy Resin, Phenolic Resin, Polyurethane Resin and Other Thermoset Resins), Manufacturing Process (Lay-Up Process, Filament Winding Process, Infusion Process, Compression Moulding Process, Injection Moulding Process, Pultrusion Process and Other Processes), End- Use (Aerospace and Defence, Wind Energy, Transportation, Sporting Goods, Marine, Construction and Infrastructure, Pipe and Tank, Electrical and Electronics and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Increasing demand for a range of lightweight materials by the end user industries has led to the rise in demand for thermoset composites. Data Bridge Market Research analyses that the thermoset composites market will witness a CAGR of 6.335% for the forecast period of 2021-2028. This when converted in terms of market value, it will rise up to USD 91.37 billion by the year 2028.
Thermoset composites are the polymers that are made with thermoset matrices having great strength and low impact-toughness making. The thermoset composites don’t witness chemical instability as they are composed of thermoplastic matrix. These are based on glass, carbon and aramid fibres. The thermoset composites can be remoulded without degradation on heating and on cooling they solidify into a finished shape.
There is a substantial rise in the demand for thermoset composites by the various end user industries owing to it beneficial properties such as strength, rigidity and high temperature resistance. Due to the rapid growth and expansion of aerospace industry, the demand for thermoset composites has multiplied over the years. Increased investment coupled with increased research and development proficiencies in wind energy sector will further fuel up the demand for thermoset composites.
However, high cost of thermoset composites will pose as a big obstruction in the way of market growth. Also, high cost involved in research and development proficiencies will not work in the favour of the market in the long run. Non-recyclable and non-reusability properties of thermoset composites will further pose a challenge for the growth of market.
This thermoset composites market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on thermoset composites market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Thermoset Composites Market Scope and Market Size
The thermoset composites market is segmented on the basis of fibre type, resin type, manufacturing process and end- use. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of fibre type, the thermoset composites market is segmented into glass fibre thermoset composite, carbon fibre thermoset composite and other fibre composites.
- On the basis of resin type, the thermoset composites market is segmented into polyester resin, vinyl ester resin, epoxy resin, phenolic resin, polyurethane resin and other thermoset resins.
- On the basis of manufacturing process, the thermoset composites market is segmented into lay-up process, filament winding process, infusion process, compression moulding process, injection moulding process, pultrusion process and other processes.
- The thermoset composites market is also segmented on the basis of end- use into aerospace and defence, wind energy, transportation, sporting goods, marine, construction and infrastructure, pipe and tank, electrical and electronics and others.
Global Thermoset Composites Market Country Level Analysis
The thermoset composites market is analysed and market size, volume information is provided by country, fibre type, resin type, manufacturing process and end- use industries as referenced above.
The countries covered in the thermoset composites market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific has been dominating the market and will continue to witness the highest growth rate during the forecast period. This is because of the prevalence of major thermoset composites manufacturers in this region. Also, increased investment in the wind energy will lead to the rise in demand for thermoset composites across countries in this region.
The country section of the thermoset composites market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Thermoset Composites Market Share Analysis
The thermoset composites market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to thermoset composites market.
The major players covered in the thermoset composites market report are Owens Corning., TORAY INDUSTRIES, INC., JEC Group., Hexcel Corporation, Mitsubishi Chemical Corporation., Teijin Aramid B.V., SGL Carbon, Huntsman International LLC., Arkema, PPG Industries, Inc., Solvay, TAEKWANG INDUSTRIAL CO., LTD., Carbon Mods, Hexion., Johns Manville., AGY, Quantum Composites, Plasan Carbon Composites, Gaffco Ballistics and KINECO – KAMAN among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.